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Comment on the Swedish government’s new task to the Riksbank Committe

8 September 2017 - Press release

The Riksbank's financial independence and balance sheet will be investigated and it will affect the Swedish National Debt Office's foreign currency funding on behalf of the Riksbank. Accordingly, the Debt Office assumes that the foreign currency on-lending will continue.

The Swedish government announced today that the Riksbank Committee should analyse the Riksbank's financial independence and balance sheet. This means that the proposal presented by the government in a draft legislative council earlier this year will not be prepared further. The purpose of the proposal was that the foreign currency funding by the Debt Office on behalf of the Riksbank would cease at year end 2017/18.

In June, the Debt Office published the report Central Government Borrowing, Forecast and Analysis 2017: 2. The issuance plan for 2018 presented in the report was based on the assumption that the on-lending in foreign currency to the Riksbank would cease. It had previously been estimated to be SEK 105 billion. This assumption therefore no longer applies. The on-lending to the Riksbank is therefore assumed to continue.

The Debt Office presents the next report Central Government Borrowing, Forecast and Analysis on October 25, 2017.